RECEIVED from the Shipper in apparent good order and condition unless otherwise
indicated herein, the cargo or the container(s) or package(s) said to
contain the cargo herein mentioned, to be carried subject to all the
terms and conditions provided for on the face and back of this Bill of
Lading, from the place of receipt or port of loading to the port of
discharge or place of delivery shown herein and there to be delivered.
If required by Carrier, this Bill of Lading duly endorsed must be
surrendered in exchange for Goods or delivery order. None of the terms
of this Bill of Lading can be waived by or for Carrier except by express
waiver signed by Carrier or its duly authorized agent.

IN ACCEPTING THIS BILL OF LADING, Merchant agrees to be bound by all the
stipulations, exceptions, terms and conditions on the face and back
hereof, and the terms and conditions contained in Carrier's applicable
Tariff, whether written, typed, stamped, or printed, as fully as if
signed by Merchant, any local custom or privilege to the contrary
notwithstanding, and agrees that all representations, agreements or
freight engagements for and in connection with Carriage of Goods are
superseded by this Bill of Lading. On presentation of one or more
original(s) of this Bill of Lading (duly endorsed) to Carrier by or on
behalf of Holder, the rights and liabilities arising in accordance with
the terms hereof shall (without prejudice to the terms of this Bill of
Lading, or any rule of law or statute rendering them binding on
Merchant) become binding in all respects between Carrier and Holder as
though the contract evidenced hereby or contained herein had been made
between them.

IN WITNESS WHEREOF, the undersigned, on behalf of Kawasaki Kisen Kaisha,
Ltd., Vessel, her owners, operators and charterers, has signed the
number of Bill(s) of Lading stated below, all of this tenor and date,
one of which being accomplished, the others to stand void.